Peoples Bank OH Takes Position in Parker-Hannifin Co. (NYSE:PH)

Peoples Bank OH acquired a new stake in Parker-Hannifin Co. (NYSE:PH) during the first quarter, HoldingsChannel.com reports. The fund acquired 424 shares of the industrial products company’s stock, valued at approximately $236,000.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Proficio Capital Partners LLC boosted its stake in Parker-Hannifin by 4.6% during the first quarter. Proficio Capital Partners LLC now owns 1,760 shares of the industrial products company’s stock worth $978,000 after acquiring an additional 78 shares in the last quarter. Whittier Trust Co. of Nevada Inc. boosted its stake in Parker-Hannifin by 92.3% during the first quarter. Whittier Trust Co. of Nevada Inc. now owns 819 shares of the industrial products company’s stock worth $455,000 after acquiring an additional 393 shares in the last quarter. Whittier Trust Co. lifted its stake in shares of Parker-Hannifin by 21.7% in the first quarter. Whittier Trust Co. now owns 2,672 shares of the industrial products company’s stock valued at $1,485,000 after buying an additional 477 shares in the last quarter. Diversified LLC lifted its stake in shares of Parker-Hannifin by 11.4% in the first quarter. Diversified LLC now owns 1,008 shares of the industrial products company’s stock valued at $560,000 after buying an additional 103 shares in the last quarter. Finally, Salomon & Ludwin LLC lifted its stake in shares of Parker-Hannifin by 70.2% in the first quarter. Salomon & Ludwin LLC now owns 97 shares of the industrial products company’s stock valued at $54,000 after buying an additional 40 shares in the last quarter. 82.44% of the stock is owned by institutional investors.

Insider Activity

In other news, VP Berend Bracht sold 1,079 shares of the firm’s stock in a transaction that occurred on Monday, May 6th. The shares were sold at an average price of $548.85, for a total value of $592,209.15. Following the completion of the transaction, the vice president now directly owns 4,200 shares in the company, valued at $2,305,170. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other Parker-Hannifin news, VP Berend Bracht sold 1,079 shares of Parker-Hannifin stock in a transaction that occurred on Monday, May 6th. The shares were sold at an average price of $548.85, for a total transaction of $592,209.15. Following the completion of the sale, the vice president now directly owns 4,200 shares in the company, valued at $2,305,170. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, VP Jay Reidy sold 572 shares of Parker-Hannifin stock in a transaction that occurred on Friday, May 3rd. The shares were sold at an average price of $536.49, for a total transaction of $306,872.28. Following the sale, the vice president now owns 1,137 shares of the company’s stock, valued at $609,989.13. The disclosure for this sale can be found here. 1.03% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

PH has been the topic of a number of recent research reports. Bank of America raised their price objective on shares of Parker-Hannifin from $600.00 to $650.00 and gave the company a “buy” rating in a research note on Friday, May 17th. Raymond James initiated coverage on shares of Parker-Hannifin in a research note on Friday, June 28th. They issued an “outperform” rating and a $610.00 price objective on the stock. KeyCorp raised their price objective on shares of Parker-Hannifin from $575.00 to $640.00 and gave the company an “overweight” rating in a research note on Thursday, April 11th. Stifel Nicolaus reiterated a “buy” rating and issued a $629.00 target price on shares of Parker-Hannifin in a report on Tuesday, July 2nd. Finally, Argus increased their target price on shares of Parker-Hannifin from $550.00 to $590.00 and gave the company a “buy” rating in a report on Monday, May 6th. Four equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to MarketBeat, Parker-Hannifin presently has a consensus rating of “Moderate Buy” and a consensus target price of $569.69.

Parker-Hannifin Stock Performance

NYSE:PH traded down $0.09 on Tuesday, reaching $508.68. 416,253 shares of the company’s stock were exchanged, compared to its average volume of 649,606. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.87 and a quick ratio of 0.50. The firm has a market cap of $65.39 billion, a price-to-earnings ratio of 23.97, a P/E/G ratio of 1.97 and a beta of 1.44. Parker-Hannifin Co. has a 52 week low of $362.49 and a 52 week high of $570.15. The stock has a fifty day simple moving average of $525.46 and a 200-day simple moving average of $518.83.

Parker-Hannifin (NYSE:PH) last issued its earnings results on Thursday, May 2nd. The industrial products company reported $6.51 earnings per share for the quarter, topping analysts’ consensus estimates of $6.10 by $0.41. Parker-Hannifin had a net margin of 13.95% and a return on equity of 29.40%. The firm had revenue of $5.07 billion during the quarter, compared to analyst estimates of $5.07 billion. During the same quarter last year, the business earned $5.93 earnings per share. The company’s quarterly revenue was up .3% on a year-over-year basis. As a group, sell-side analysts predict that Parker-Hannifin Co. will post 24.85 earnings per share for the current year.

Parker-Hannifin Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 7th. Stockholders of record on Friday, May 10th were given a $1.63 dividend. This is a positive change from Parker-Hannifin’s previous quarterly dividend of $1.48. This represents a $6.52 dividend on an annualized basis and a dividend yield of 1.28%. The ex-dividend date of this dividend was Thursday, May 9th. Parker-Hannifin’s dividend payout ratio (DPR) is 30.73%.

Parker-Hannifin Profile

Parker-Hannifin Corporation manufactures and sells motion and control technologies and systems for various mobile, industrial, and aerospace markets worldwide. The company operates through two segments: Diversified Industrial and Aerospace Systems. The Diversified Industrial segment offers sealing, shielding, thermal products and systems, adhesives, coatings, and noise vibration and harshness solutions; filters, systems, and diagnostics solutions to ensure purity and remove contaminants from fuel, air, oil, water, and other liquids and gases; connectors used in fluid and gas handling; and hydraulic, pneumatic, and electromechanical components and systems for builders and users of mobile and industrial machinery and equipment.